Pros
Various pros: Lots of independence, consistent feedback, free lunch/snacks, great brand name recognition for CV, excellent compensation, ridiculously intelligent co-workers, high-pressure situations can be incredibly rewarding if you can tolerate the pain. The bottom line for BW is that the firm encourages far more reflection and introspection than other firms do. If you work there, you will learn a lot about yourself and will undoubtedly get better at whatever you are employed to do.
Cons
Work/life balance can be nonexistent- partially due to the firm's location so far away from NYC and partially due to the demands of the job. The hours are not terrible for most people, but the pace at which you will work during the day will far exceed any other job you will have. Incredibly high turnover (over 50% per 18 months now), which definitely erodes team cohesion and morale. The culture attempts to get rid of office politics, but it ended up creating a tedious bureaucracy that can make it difficult to get things done (though there are several instances of the opposite being true). Although this varies by department, the culture can be highly abusive and there were countless instances of people behaving in ways that would get them admonished or fired at any other firm. The sheer amount of 'culture' work, such as management training, polls and feedback, can be cumbersome and exhausting, particularly if you a ton of work to get through.